Property price pacesetter

Hillman recorded most growth in median house prices for any local suburb. Picture: Elle Borgward www.communitypix.com.au d417802
Hillman recorded most growth in median house prices for any local suburb. Picture: Elle Borgward www.communitypix.com.au d417802

The leafy suburb that sits aside Lake Cooloongup recorded a 17.1 per cent increase in its median house price in the 12 months to December last year; the median house price is now $328,000.

The second highest growth was recorded in Golden Bay at 14.7 per cent, setting the median house price at $390,000.

Calista recorded the third highest growth at 13.2 per cent, increasing the median house price to $305,000.

Only one suburb in the region recorded negative growth, with rural Wandi, the City of Kwinana’s most northern suburb, recording a drop in its median house price by 8 per cent to $630,000.

The worst performing residential suburb was Secret Harbour with median house prices rising just 1.6 per cent to $470,000.

The most expensive suburb in the region is rural Casuarina with a median house price of $827,500 while the cheapest suburb to buy a house in is Medina with a median price of $265,000.

Acton Rockingham director Roger Moorhouse said Hillman had a lot to offer buyers with its proximity to the industrial area, tertiary colleges, shops and the foreshore.

‘Hillman offers great value for money in a small well established suburb,’ he said.

Mr Moorhouse said the market was good for buyers and sellers now.

‘We are in what we in the industry call a balanced market with a similar number of new listings coming onto the market compared to the number of sales,’ he said.

‘I don’t see this changing much in the near future.

Mr Moorhouse said second and third home owners were most active in the market.

‘Prices have been on the move for the past 12 months now with a lot of suburbs recording great growth,’ he said.

‘The astute buyers have been picking up some bargains over the past 12 months and with interest rates on hold once again this month, I believe there is still value in the market.

‘As such, there should be a continued small but solid growth.’